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Dime Community Bank Provides $30.2M Refinance Loan For Multifamily Property On Upper West Side

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FINANCED
$119,000,000

New York

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MultiFamily1,936 SF
Financed 05/05/2020
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FINANCED

Dime Community Bank Provides $30.2M Refinance Loan For Multifamily Property On Upper West Side

666 West End Ave, New York, NY 10025, USA

See Similar Deals
MultiFamily1,936 SF
Financed 05/05/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$61,466
Total Square Footage:1,936 SF
Transaction Type:Loan

The multifamily property located at 680 West End Avenue in the Upper West Side has recently undergone a loan refinancing transaction. The property spans across 154,800 square feet and is owned by Empire Management, represented by Fred Ohebshalom. The lender involved in the transaction is Dime Community Bank, with Louis Ciniglio representing the bank.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $30,200,000
  • Address: 680 West End Avenue
  • Market: Upper West Side
  • Lender: Dime Community Bank - Louis Ciniglio
  • Landlord: Empire Management - Fred Ohebshalom

The loan refinancing, which took place on the specified date, involved a loan amount of $30,200,000. The transaction was facilitated by the lender, Dime Community Bank, and their representative, Louis Ciniglio. The property owner, Empire Management, was represented by Fred Ohebshalom. This refinancing deal aimed to provide financial stability and potential further investments for the multi-family property located at 680 West End Avenue.

Players

LENDER

7 deals$260.9M volume
LANDLORD

Details

FINANCED
IMAGE: 10/19/2022 ADDRESS: 680 West End Avenue MARKET: Upper West Side ASSET TYPE: Multifamily ~ SF: 154,800 LENDER: Dime Community Bank (@DimeBankUSA) - Louis Ciniglio LANDLORD: Empire Management (@EmpireManagementNYC) - Fred Ohebshalom LOAN AMOUNT: $30,200,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$119,000,000.00

Monthly NOI$793,333.33
Monthly Debt Service$752,160.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00